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New Mexico pension redeems about $100m from Two Sigma fund
The PERA redemption was made in June, even as the Absolute Return Enhanced Fund had gained 12.4% year to date.
New Mexico’s Public Employees Retirement Association (PERA) redeemed an estimated $100m from Two Sigma Investments’ Absolute Return Enhanced Fund, according to a report cited by Hedgeweek. PERA said organizational issues at Two Sigma created too much uncertainty, with no clear timetable for resolving an internal conflict.
The report says the fund investment was worth about $100m at the end of March and that PERA carried out the redemption in June. Hedgeweek also notes that PERA had previously acknowledged the strategy’s strong record.
The Absolute Return Enhanced Fund has gained 12.4% so far this year and returned 15% in 2025, per the same reporting. Two Sigma has secured replacement capital for the strategy, which has been closed to new investors for several years.
Hedgeweek links the decision to the broader dispute between Two Sigma co-founders John Overdeck and David Siegel, including management and direction disagreements and senior departures. The latest dispute could be referred to arbitration, and representatives for both Two Sigma and PERA reportedly declined to comment.